I am also unsure exactly what purpose (ticket, loyalty card, etc.) the punch was used for. Bonney-Vehslage Cow Head Hole Ticket Punch.
Vtg BV Bonney Vehslage Railroad Train Conductor Ticket Hole Punch Stamp RLC RLG
Bonney Vehslage Vintage Railroad Conductor Ticket Punch Stamp Unique cut out
8F VTG Heavy Duty Steel 1/2" Linear Hole Punch Tool Luggage Bonney-Vehslage
Conrad BV 01/019 High Performance Transformer Model Railway 15V/18V Flawless
Bonney/Herbrand S-Curved Railroad Wrench Forged Steel
Bonney Pratt & Whitney 3/8" Drive 9/16" Cylinder Base Nut Wrench No PWA1633